While exact rates varied down to the specific survey number, zone, and sub-zone, the average baseline values for prime residential properties in 2001 generally sat within the following ranges: South Mumbai (Island City) : ₹7,000 to ₹12,000 per sq. ft.
(Note: Rates are per sq ft of carpet area for residential use. Commercial rates were ~1.5x to 2x residential.) ready reckoner rate mumbai 2001
in some zones despite no specific amendments, a rare move intended to stimulate a sluggish market. Transition in Calculation While exact rates varied down to the specific
By providing a comprehensive overview of the Ready Reckoner Rate in Mumbai in 2001, this article aims to educate readers on the significance of this rate and its impact on the real estate market. Whether you are a buyer, seller, or investor, understanding the Ready Reckoner Rate is essential for making informed decisions in the property market. Commercial rates were ~1
The Ready Reckoner Rate (RRR)—historically known as the Annual Statement of Rates (ASR)—is the government-mandated minimum valuation threshold for immovable properties. While it is actively used to calculate stamp duty and registration fees during a transfer, the year 2001 acts as a permanent legal anchor for the Union Budget’s tax laws.
: Registered valuers maintain private archives of older RR books and can issue a certified valuation report for tax purposes. Reference Publications : Books like
: If you purchased a property before 2001, you can use the RR rate as of April 1, 2001 , as your "deemed cost of acquisition" for tax purposes.